Aurora Innovation (NASDAQ:AUR) Releases Quarterly Earnings Results, Meets Estimates

Aurora Innovation (NASDAQ:AUR) released its quarterly earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12), FiscalAI reports. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%. The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $2.99 million.

Aurora Innovation Price Performance

Aurora Innovation stock traded down $0.03 during midday trading on Wednesday, reaching $5.09. The company had a trading volume of 17,657,076 shares, compared to its average volume of 24,905,031. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.56. The firm’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $5.62. The company has a market capitalization of $10.20 billion, a P/E ratio of -10.83 and a beta of 2.69.

Wall Street Analysts Forecast Growth

AUR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, September 24th. Morgan Stanley lifted their price objective on shares of Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. Finally, Canaccord Genuity Group lifted their target price on Aurora Innovation from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Aurora Innovation currently has a consensus rating of “Hold” and an average target price of $13.22.

Insider Activity

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,390,753 shares of company stock worth $44,826,378 over the last ninety days. 8.52% of the stock is owned by corporate insiders.

Aurora Innovation Company Profile

Aurora Innovation, Inc develops autonomous driving technology for commercial trucks and passenger vehicles. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and vehicle-control software to enable vehicles to perceive their surroundings, plan routes, and operate with limited or no human intervention.

The company focuses initially on autonomous trucking and freight transportation, while also developing technology for passenger mobility applications.